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Australia's NSW state plans $9.6 bln power sell-off

Tue Jun 24, 2008 11:22pm EDT

SYDNEY, June 25 (Reuters) - Australia's New South Wales state government announced on Wednesday plans to sell some of its major energy assets through a trade sale and public share offer in a move estimated to raise about A$10 billion ($9.6 billion).

The government said in a statement it would sell the retail operations of its Energy Australia business as well as a newly integrated electricity business comprising Integral Energy's retail business and Eraring Energy.

The government said in December it was considering selling the retailing licenses of Energy Australia, Integral Energy and Country Energy, while power producers Macquarie Generation, Delta Electricity and Eraring Energy would be divested through long-term leases. (Reporting by Anirban Nag)



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